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Taylor plc Wimpey 14 January 2021 Taylor Wimpey plc Trading statement for the year ended 31 December 2020 Taylor Wimpey is issuing the following update on trading ahead of its full year results for the year ended 31 December 2020 , which will be announced on 2 March 2021 . Overview Pete Redfern , Chief Executive , commented : " Our focus remains on the continuing safety of our colleagues , customers , suppliers and subcontractors as the country continues to deal with the COVID - 19 pandemic . Our 2020 results will be in line with market expectations . While operations were impacted by the shutdown period in the second quarter , the subsequent return to near normal construction capacity and continuing resilience of the UK housing market enabled sales and production to recover strongly towards the end of the year . We increased new investment in land in the second half of the year as high quality land became available at attractive margins . We start the year with an excellent order book and ongoing focus on strengthening the business and improving margins . This will position Taylor Wimpey well to deliver strong and reliable returns for our stakeholders over the medium term . " 2020 performance We entered 2020 with a healthy sales rate underpinned by strong demand for our homes and with a focus on driving margin performance . Our operations were inevitably significantly impacted by the shutdown period in the second quarter of 2020 , when we acted quickly to put in place the safety measures necessary to operate in a COVID - secure manner . However , the UK housing market has remained resilient and our production and sales have recovered strongly since the shutdown . We expect to report full year 2020 results in line with market expectations¹ . Total UK home completions ( including joint ventures ) decreased by c.39 % to 9,609 in 2020 , due primarily to the impact on production capacity during the second quarter shutdown ( 2019 : 15,719 ) , and we delivered 1,904 affordable homes ( 2019 : 3,548 ) , including joint ventures , equating to 20 % of total completions ( 2019 : 23 % ) . Our net private reservation rate for 2020 was 0.76 homes per outlet per week ( 2019 : 0.96 ) . Cancellation rates for the full year were above normal levels at 20 % ( 2019 : 15 % ) , but normalised in the final quarter , at 16 % , ( 2019 : 16 % ) . Average selling prices on private completions increased by 6 % to £ 323k ( 2019 : £ 305k ) , with the overall average selling price increasing to £ 288k ( 2019 : £ 269k ) , driven mostly by change in mix . 1. The current Company compiled average consensus expectation for 2020 is for operating profit , which includes share of results of joint ventures , of £ 293 million . Operating profit is defined as profit on ordinary activities before net finance costs , exceptional items and tax , after share of results of joint ventures . 1